Top 5: Oregon records nation’s 6th biggest decline in construction jobs in January

Got a story tip? ryanfrank@news.oregonian.com; 503-221-8519.1. Oregon records nation’s 6th biggest decline in construction jobs in January: The state lost 15,900 construction jobs between January 2009 and January 2010, falling from 82,300 to 66,400. That’s a 19 percent fall and 6th highest in the country, according to figures from the Associated General Contractors of America. The only state’s with biggest percentage drops were Nevada, Arizona, Colorado, Idaho and Florida. Washington state was right behind Oregon, also at 19 percent. Check out the the detailed rankings here.

2. Oregon’s delinquent loan rate at 8.7 percent below U.S average in January: The state had the ninth lowest rate of non-current loans on Jan. 31, according to mortgage data firm Lender Processing Services. Oregon ranked far below the U.S. average of 13.5 percent that’s continues to be driven up by the Sand States. Here’s the full and meaty report. Housing Wire digs into more of the national numbers that show delinquencies are slowing but remain at all-time high rates. In total, 7.4 million loans are non-current, up from 4.1 million in 2008. And here’s more from Housing Wire on how 2010 is the year of the REO.

3. Treasury official says one reason loan modifications so slow: Servicers take “their jolly old time”: That’s what ProPublica’s Paul Kiel reports in his analysis of Friday’s Treasury report. Kiel says about 150,000 homeowners have been in a trial period for longer than six months. But the trial periods are supposed to be half that long. A Treasury officials says sometimes borrowers don’t turn in required paperwork. Other times, well, they take their “jolly old time.” Read on for more, including an eye-popping chart that shows just how little the loan modification program has done for the message of a housing market we’re in.

4. City of Portland inspectors, struggling to keep up, seek budget help: The DJC reports that the city’s Bureau of Development Services saw overall revenue fall from $13.5 million in 2008 to just $2.9 million in 2009. Contractors are complaining that after the city laid off inspectors, they can’t keep up with demand for the few projects that are getting built.

5. Government-sponsored share of mortgage originations hi 90% in 2009, new record: The credit crisis among private lenders and collapse of Wall Street securitization drove borrowers to government-sponsored loans in 2009 like never before, according to trade journal Inside Mortgage Finance. FHA, VA, Fannie Mae and Freddie Mac loans account for 90 percent of the $1.8 trillion in 2009 mortgages. That’s up from 51 percent in 2008 and just 36 percent in 2006.